The Mines Ministry on December 15 said it has permitted notified private exploration agencies to participate in the auction of critical and deep-seated mineral blocks explored by them.
The development will attract bigger mining companies in the exploration arena and is likely to encourage junior mining companies from around the world to come to India and take up exploration projects with National Mineral Exploration Trust (NMET) funding.
The Ministry further said it has also launched a new scheme to directly sanction projects for the exploration of critical and deep-seated minerals to notified private exploration agencies (NPEAs). This new scheme will help bring new technologies in the field of exploration.
